By Sheri Kasprzak
New York, April 5 - ReGen Biologics, Inc. settled another tranche of its previously announced private placement for $2,700,012, bringing the total proceeds raised in the offering to $5,700,030.
In this tranche, the company sold 64,286 shares of series D convertible preferred stock at $42.00 each to a group of investors led by Ivy Capital Partners, LLC.
Each preferred is convertible into 100 common shares
The investors also received warrants for 19,285 preferred shares, exercisable at $63.00 each, or $0.63 per common share.
On March 6, the company sold $3,000,018 in the preferreds.
ReGen, based in Franklin Lakes, N.J., develops orthopedic products.
| Issuer: | ReGen Biologics, Inc.
|
| Issue: | Series D convertible preferred stock
|
| Amount: | $2,700,012
|
| Shares: | 64,286
|
| Price: | $42.00
|
| Conversion ratio: | Into 100 common shares per preferred
|
| Warrants: | For 19,285 series D convertible preferred shares
|
| Warrant strike price: | $63.00
|
| Settlement date: | April 5
|
| Stock symbol: | OTCBB: RGBI
|
| Stock price: | $0.50 at close April 5
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
